There’s a rising chorus of pleas to enact state legislation that will exempt debt relief for homeowners selling their homes in short sales. The question is, will the California legislature continue to be tone-deaf?
There are currently two bills before the legislature — AB 1799 by Assemblyman Roger Niello, R-Fair Oaks, and SB X614 by Sen. Ron Calderon, D-Montebello – that, if passed by April 15, will provide huge relief for at least 35,000 citizens who had to sell their homes in 2009 in short sales and are now facing big tax bills because, right now, the state sees debt relief as income (who did THAT math?).
If there was ever a time to put pen to paper (or cursor to screen) and write your legislator, this is that time.
Tell him/her that California homeowners have suffered enough, having been clobbered over the head already by loans they couldn’t pay on houses that are worth less than that loan.
Not sure who to write? Go here to find the representative for your district.